Larson: what changed
Larson
Largest movements
- Receivables within one year +€24,505
up €24,505 (+28.5%), from €85,922 to €110,427
of which Trade receivables: +€49,323
- Financial fixed assets +€20,000
up €20,000 (+47.7%), from €41,895 to €61,895
- Cash +€5,147
up €5,147 (+62.2%), from €8,276 to €13,423
mainly Net result for the year (+€67,626) and Tax, wage and social debts (+€30,473)
- Tax, wage and social debts +€30,473
up €30,473 (+466%), from €6,535 to €37,007
- Reserves +€17,996
up €17,996 (+14.8%), from €121,627 to €139,623
- Trade debts -€5,066
down €5,066 (-53.7%), from €9,441 to €4,375
- Current portion of long-term debt +€4,938
up €4,938 (+57.6%), from €8,572 to €13,510
- Gross operating margin +€48,974
up €48,974 (+80.0%), from €61,236 to €110,210
- Taxes +€22,441
up €22,441 (+195%), from €11,487 to €33,928
- Depreciation -€10,986
down €10,986 (-60.9%), from €18,051 to €7,065
Change in the result, 2024 to 2025
For each income-statement line you see the change as its effect on the result. Higher costs lower the result, higher income raises it.
Derived cash bridge
The bridge is derived from the 2024 and 2025 balance sheets and the 2025 result. There is no filed cash-flow statement. You see where the money came from and where it went.
Every line side by side
| Line | Code | 2024 | 2025 | Change | % |
|---|---|---|---|---|---|
| Total assets | 20/58 | €172,264 | €221,001 | +€48,738 | +28.3% |
| Fixed assets | 21/28 | €78,066 | €97,152 | +€19,086 | +24.4% |
| Tangible fixed assets | 22/27 | €36,171 | €35,257 | -€914 | -2.5% |
| Land and buildings | 22 | €21,244 | €17,626 | -€3,618 | -17.0% |
| Plant, machinery and equipment | 23 | €12,297 | €12,959 | +€662 | +5.4% |
| Furniture and vehicles | 24 | €2,630 | €4,671 | +€2,041 | +77.6% |
| Financial fixed assets | 28 | €41,895 | €61,895 | +€20,000 | +47.7% |
| Current assets | 29/58 | €94,198 | €123,850 | +€29,652 | +31.5% |
| Amounts receivable within one year | 40/41 | €85,922 | €110,427 | +€24,505 | +28.5% |
| Trade receivables | 40 | €22,536 | €71,859 | +€49,323 | +219% |
| Other amounts receivable | 41 | €63,386 | €38,568 | -€24,818 | -39.2% |
| Cash at bank and in hand | 54/58 | €8,276 | €13,423 | +€5,147 | +62.2% |
| Total equity and liabilities | 10/49 | €172,264 | €221,001 | +€48,738 | +28.3% |
| Equity | 10/15 | €127,827 | €145,823 | +€17,996 | +14.1% |
| Contributions | 10/11 | €6,200 | €6,200 | = | 0.0% |
| Reserves | 13 | €121,627 | €139,623 | +€17,996 | +14.8% |
| Distributable reserves | 133 | €121,627 | €139,623 | +€17,996 | +14.8% |
| Amounts payable | 17/49 | €44,436 | €75,178 | +€30,742 | +69.2% |
| Amounts payable within one year | 42/48 | €44,436 | €74,780 | +€30,344 | +68.3% |
| Current portion of amounts payable after more than one year | 42 | €8,572 | €13,510 | +€4,938 | +57.6% |
| Financial debts | 43 | €13,000 | €13,000 | = | 0.0% |
| Credit institutions | 430/8 | €13,000 | €13,000 | = | 0.0% |
| Trade debts | 44 | €9,441 | €4,375 | -€5,066 | -53.7% |
| Suppliers | 440/4 | €9,441 | €4,375 | -€5,066 | -53.7% |
| Taxes, remuneration and social security | 45 | €6,535 | €37,007 | +€30,473 | +466% |
| Taxes | 450/3 | €6,535 | €37,007 | +€30,473 | +466% |
| Other amounts payable | 47/48 | €6,888 | €6,888 | = | 0.0% |
| Accrued charges and deferred income | 492/3 | - | €398 | +€398 | |
| Depreciation of and write-downs on formation expenses, intangible and tangible fixed assets | 630 | €18,051 | €7,065 | -€10,986 | -60.9% |
| Other operating charges | 640/8 | €2,218 | €2,371 | +€153 | +6.9% |
| Gross operating margin | 9900 | €61,236 | €110,210 | +€48,974 | +80.0% |
| Operating profit (loss) | 9901 | €40,967 | €100,774 | +€59,807 | +146% |
| Financial income | 75/76B | €2,499 | €1,985 | -€513 | -20.5% |
| Recurring financial income | 75 | €2,499 | €1,985 | -€513 | -20.5% |
| Financial charges | 65/66B | €1,103 | €1,205 | +€102 | +9.3% |
| Recurring financial charges | 65 | €1,103 | €1,205 | +€102 | +9.3% |
| Profit (loss) for the period before taxes | 9903 | €42,363 | €101,554 | +€59,191 | +140% |
| Income taxes | 67/77 | €11,487 | €33,928 | +€22,441 | +195% |
| Profit (loss) for the period | 9904 | €30,875 | €67,626 | +€36,751 | +119% |
| Profit (loss) for the period to be appropriated | 9905 | €30,875 | €67,626 | +€36,751 | +119% |
Next steps
Calculation and sources
Source: filed annual accounts (NBB), financial years ended 31 December 2024 and 31 December 2025. Green is a favourable move for that line, red an unfavourable one. Prepared on 4 November 2026 via checked.be.